(Reliance Industries, 6.Jul.2023) â Reliance Industries Limited (RIL) and bp p.l.c. confirmed the commencement of production from the MJ field, following testing and commissioning activities. The MJ field represents the last of three major new deepwater developments the RIL-bp consortium have brought into production in block KG D6 off the east […]
Tag: Reliance Industries
NRGBriefs: Washington yet to Ease Sanctions on Venezuela
(Energy Analytics Institute, 16.Mar.2022) â Energy briefs including Argentina Lithium & Energy Corp. (TSXV: LIT) (FSE: OAY3) (OTC: PNXLF) receiving TSX Venture Exchange approval of a definitive agreement with vendors; and Washington continuing to evaluate easing sanctions on Venezuela that could allow Chevron and other cos. to take control of their […]
Colombia Testing Waters for Carbon-Neutral Crude
(Bloomberg, 7.Dec.2021) â Colombia, a producer of sludgy, dirty oil, is seeking to sell crude thatâs carbon neutral as it tests the marketâs appetite for ESG oil. State-controlled oil driller Ecopetrol SA is offering as much as 1 million barrels of oil, according to an internal document seen by Bloomberg. […]
Reliance’s US Shale Exit Signals Refocus Intent
(S&P Global, 11.Nov.2021) â The move by Reliance Industries to divest all its US shale assets and exit the sector signals its intention to ensure the company maintains its sharp focus on India’s domestic market, where its energy portfolio is being increasingly diversified beyond its core refining business. Analysts said […]
US May Restore Venezuela Diesel Swaps, Ease Waiver
(Argus, 20.Jan.2021) â The new US administration is considering whether to reinstate Venezuelan crude-for-diesel swaps and ease a key sanctions waiver, but policy reversals alone would not be enough to meaningfully revive the Opec country’s oil production after years of neglect. At his senate confirmation hearing yesterday, secretary of state […]
Entities Look To Press Biden On Venezuela Fuel Swaps
(Reuters, 18.Jan.2021) â Representatives of fuel suppliers to Venezuela, importers of Venezuelan oil and advocacy groups said this month they plan to press the incoming administration of U.S. President-elect Joe Biden to reverse a ban on crude-for-diesel swaps. The Trump administration since the last quarter of 2020 has barred companies […]
Sign of Venezuelaâs Oil Collapse Is Storage Surge
(Bloomberg, 23.Oct.2020) â Venezuelan crude inventories have surged 84% over the last three weeks as the threat of U.S. sanctions ward away buyers of the nationâs most important commodity. That raises the risk that state-run PDVSA will have to start shutting in production again, and is the latest sign that […]
Reliance Buys Canadian Oil To Offset Venezuelan Oil
(Reuters, 1.Oct.2020) â Reliance Industries has agreed to purchase 2 million barrels of Canadian heavy crude per month, three industry sources said, as a substitute for dwindling Venezuelan supply. The deal, large for Canada, shows how global buyers are scrambling for new sources of heavy oil. Venezuelaâs production has collapsed […]
US’ Abrams Eyes Tighter Sanctions On Venezuela
(Reuters, 31.Aug.2020) â The Trump administration is looking to tighten oil sanctions on Venezuela in the near future, top U.S. envoy for the country told Reuters on Monday, by potentially removing exemptions that allow some oil companies to receive crude oil from the OPEC member. U.S. President Donald Trump has […]
US Eyes October To End Exemptions On Venezuela
(Reuters, 19.Aug.2020) â The United States is considering an October deadline for ending exemptions to Venezuelan sanctions that allow some companies and refiners to still receive the South American producer’s oil, two sources said, as Washington seeks to raise the heat on President Nicolas Maduro. U.S. President Donald Trump has […]
Trump Govt Weighs Tighter Sanctions On Venezuelan Oil
(Bloomberg, 18.Aug.2020) â The Trump administration is considering additional sanctions on Venezuela aimed at halting the remaining fuel transactions permitted with the South American nation, according to people familiar with the matter. The measures could target crude swaps with companies in Asia and Europe, said the people, who requested anonymity […]
Reliance To Load Venezuelan Oil In Fuel Swap Deal
(Sputnik, 10.Jul.2020) â India is one of the biggest buyers of Venezuelan oil in spite of US sanctions. Private Indian refiners Reliance Industries and Nayara Energy are the only buyers from India. Soon after the US imposed sanctions, the Indian Ministry of Petroleum and Gas had advised the two firms […]
Reliance To Load Venezuelan Oil Under Fuel Swap Deal
(Reuters, 9.Jul.2020) â Indiaâs Reliance will load its first cargo of Venezuelan crude in three months this week in exchange for diesel under a swap deal the parties say is permitted under the U.S. sanctions regime on the Latin American country, according to a Reliance source and a shipping document […]
India Boosts Imports Of Venezuelan Oil
(Argus, 29.Jul.2019) â India’s imports of Venezuelan crude jumped by 25pc year on year in June and by 37pc from May, reflecting the limited reach of US sanctions on the South American nation. Imports from Venezuela rose to 303,000 b/d last month from 221,000 b/d in May and 243,000 b/d […]
PDVSA Ships $35 Million Oil Cargo To Pay Dividends To ONGC – Sources
(Reuters, Alexandra Ulmer, Nidhi Verma, 31.Oct.2018) â Venezuelaâs state-run PDVSA has shipped a crude cargo valued at $35 million as partial payment to Indian oil company ONGC Videsh Ltd for overdue dividends from a joint venture, according to two people familiar with the matter. The payment is based on an […]
PDVSA, Reliance Discuss Trade Opportunities
(Energy Analytics Institute, Piero Stewart, 28.Jun.2018) â Officials from PDVSA and Reliance assess new trade opportunities. PDVSA President Manuel Quevedo met with a delegation headed by Jayaraman Rajamaran, President and Head â Physical Trading – Crude/Oil Products Refining & Marketing at Reliance Industries Ltd. Reliance â owner of Jamnagar refinery, […]
Venezuela Oil Exports to China Slump
(Reuters, 17.Jun.2018) â Reuters) – Chinaâs imports of Venezuelan crude oil could sink to their lowest in nearly eight years in July as the OPEC producer struggles with shrinking output and mounting logistics issues, according to people familiar with the matter and shipping data. State-controlled PetroChina expects June loadings from […]